Indian “Crypto King” Arrested Over Drug-Related Allegations, WazirX Denies Knowledge of it

Nemesis is likely to have caught up with an IT graduate that is based in Mumbai, Makarand Pardeep Adivirkar, who allegedly used Bitcoin to aid the purchase of illegal drugs. The illicit transaction was carried out on the dark web and involved several drug dealers. The culprit was to receive his commissions in cash if the operation was successful. 

The Narcotics Control Bureau (NCB) in India arrested the major culprit Pardeep Adivirkar recently. Adivirkar who is nicknamed “the crypto king” within the drug trafficking community aided the transactions by converting the process into cryptocurrency. The NCB unit in Mumbai said that the process was facilitated via a chain of bank transfers and subsequently purchasing the drugs for European vendors. 

The illicit substances that were purchased included the hallucinogenic drug LSD  as well as other hard drugs. Of course, this development might not be new as such transactions are native on the darknet. Aside from hard drugs, other dangerous items are purchased from this unconventional area of the internet including arms and ammunition. 

WazirX Cries Not Guilty

The transaction which occurred via several addresses was reportedly included crypto exchange WazirX. The platform was queried by the NCB that demanded the platform to release the details of Adivirkar’s recent transactions. However, WazirX said that the defaulter was not a user of the platform after checking their records. 

After the NCB unit in Mumbai intercepted and seized 20 LCD blots from a village in India, Adivirkar was captured. The investigation went on as the recovered items bore signs of European origins and was believed to have been purchased from the darknet. 

Following the tracking of two manipulative transactions that occurred in Adivirkar’s Bitcoin wallet, he was caught and the charged with the crimes. It is known that the Indian government does not think that cryptocurrencies are wonderful. They have linked them to several negative issues including money laundering and illegal transactions, which sadly play in Adivirkar’s case. 

Total
0
Shares
Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts